Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.073%

Price spread now: ApeX Omni against BloFin+0.125%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$630.626% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.047%−$5 on $10k

Price spread, last 3 days (all we have)+0.411%+$41 · spread now +0.125%, 7d avg +0.031%

Together, before fees+0.365%+$36 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.094% dearer against BloFin than usual: you sell high and buy low (spread +0.125% now, against its 7-day average of +0.031%): +$9 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 31 hours. At the pace of the last 7 days (−0.047% in total) that is about 14 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.047% in total (about -2.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin POL-USDT	0.1123	0.0340	pay 0.0170% / 4h	1h 09m	$914K	$170K	75x
Short	ApeX Omni POLUSDT	0.1124	0.0100	get 0.0013% / 1h	9m 04s	$199K	$658K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BloFinbpFee ApeX OmnibpOrdersPrice spread, now +0.125%Rate

Funding earned: −$50.4
Price spread: +0.125% → +0.031%: $9.36
Slippage, 4 orders: −$40.61
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$103.65
Costs to cover: 0.626%
Break-even: never at this rate

Slippage from BloFin: live order book, 8 min ago; ApeX Omni: live order book, 9 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BloFin live order book, 8 min ago	0.89 bp	14.5 bp −$14	23.9 bp −$239	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 9 min ago	8.89 bp	19.0 bp −$19	133.2 bp −$1,332	doesn't fit	doesn't fit

POL on 25 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective POL/USDC PERP	−0.0162%	1h	0.1111	−1.033%	$3K	$124K	12x	as long as short
Coinbase International POL-PERP-INTX	−0.0128%	1h	0.1122	−0.053%	$205K	$236K	50x	as long as short
Kraken Futures PF_POLUSD	−0.0071%	1h	0.1125	+0.199%	$1.2M	$1.8M	50x	as long as short
Orderly PERP_POL_USDC	−0.0011%	4h	0.1124	+0.089%	$11K	$197K	20x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1124	+0.100%	$3K	—	—	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1124	+0.152%	$24K	—	150x	as long as short
dYdX POL-USD	+0.0013%	1h	0.1124	+0.123%	$17K	$3K	5x	as long as short
Lighter POL	+0.0096%	1h	0.1124	+0.159%	$300K	$577K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1123	+0.073%	$376K	$360K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1124	+0.144%	$17.4M	$51.0M	75x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit POLUSDT	+0.0100%	4h	0.1124	+0.089%	$16.2M	$15.6M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1124	+0.107%	$5.8M	$12.0M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1123	+0.053%	$1.9M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1124	+0.134%	$23.7M	$3.9M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1124	+0.089%	$2.8M	$1.0M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1124	+0.151%	$4.2M	$5.8M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1124	+0.125%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1123	+0.018%	$663K	$191K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1124	+0.098%	$1.1M	$3.3M	10x	as long as short
ApeX Omni POLUSDTshort	+0.0100%	1h	0.1124	+0.125%	$199K	$658K	50x
Extended POL-USD	+0.0104%	1h	0.1124	+0.123%	$94K	$427K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1124	+0.080%	$41K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0211% / S −0.0606%	1h	0.1124	+0.151%	$3K	—	100x	as long as short
Hyperliquid POL	+0.0243%	1h	0.1127	+0.365%	$7.6M	$4.0M	5x	as long as short
BloFin POL-USDTlong	+0.0340%	4h	0.1123	long leg	$914K	$170K	75x